L&T Tech Services bets big on IoT & digital engineering solutions

Larson & Turbo Technology Services, a pure play engineering services company has placed its bet on IoT and digital Engineering services to tap into the billion dollar market. L&T technology services, filed its Draft red herring prospectus July this year, prior to its initial public offering (IPO).

The Engineering Research and Development (ER&D) company has invested in multiple labs for emerging trend solutions in engineering analytics, power electronics and IOT.

Kumar Prabhas, COO L&T Technology Services said, "The company recognises there is lot of innovation in the world which is coming from startups", adding that the company is looking to partner with startups to collaboratively built solutions in the IoT space.

In addition, L&T technology services has developed solutions in the medical, automotive, Industrial products and the process industry. Interestingly, the company build an end-to-end software platform for a dual-touch screen phone for a Russian smartphone maker. The firm primarily caters to clients in Europe and US.

Dr. Keshab Panda, CEO, L&T Technology services in a press statement said, "In L&T Technology Service, we focus on innovation driven technology leadership and have set up research and test laboratories that are specific to particular industry verticals that seek to replicate our customer work environment. This enables us to work closely with our customers' research and development team on product innovation leveraging our technology"

The company serves over 200 customers, including more than 50 Fortune 500 customers globally. The company has filed 34 proprietary patents, and 134 patents have been filed by customers along with their employees.